Question

Why should an entrepreneur do a feasibility study for starting a new venture?

Answer 1

Answer:

To begin with, every idea sounds like a great idea! A feasibility study helps you to determine its practical viability. ... A feasibility study becomes an essential part of the overall business justification that is a "must-do" exercise, before putting your heart-and-soul into your new enterprise.

Answer 2

It is necessary for the entrepreneur do a feasibility study for starting a new venture since it helps him in identifying if there are any obstacles on his path to success

Explanation:

• A feasibility study  helps the entrepreneur in understanding the market, the budget needed for starting the venture, the liquidity aspect of the business venture  and the return on investment in the venture.
• Feasibility study would help the businessmen to keep the business running on track and to determine effective ways mitigate any kind of obstacles that come on the way
• The feasibility study and planning entails all the actions and the strategic decisions that are needed to be taken to for achieving the objectives of the venture and for it to be a success.

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